Trading activities rebounded on the Nigerian Stock Exchange (NSE) on Tuesday due to price growth posted in some large and medium capitalised equities.
The All-Share Index (ASI) increased by 48.35 points, representing a growth of 0.18 per cent to close at 26,739.44 compared with 26,691.09 achieved on Monday.
Similarly, the market capitalisation grew by N23 billion or 0.18 per cent to close at N12.905 trillion against N12.882 trillion posted on Monday.
The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Conoil, MTN Nigeria, Forte Oil, Nigerian Breweries and Ekocorp.
Analysts at Afrinvest Limited said that “We expect to see a mixed performance following improved interest in the market.”
Analysts at Cordros Capital said that the market might continue to benefit over the short-term, especially in the face of lower yields in the fixed income market
Market breadth closed positive, with 20 gainers compared with 13 losers.
Ekocorp recorded the highest price gain in percentage terms, appreciating by 10 per cent to close at N4.07 per share.
ConOil came second with a gain of 9.74 per cent to close at N16.90, while Learn Africa inched 9.43 per cent to close at N1.16 per share.
Neimeth International Pharmaceuticals inched 9.09 per cent to close at 48k, while Academy Press appreciated by 8.82 per cent to close at 37k per share.
On the other hand, Associated Bus Company led the losers’ chart in percentage terms with a loss of 8.89 per cent, to close at 41k per share.
United Capital followed with a decline of 5.22 per cent to close at N2.18, while Aiico Insurance dropped 5.19 per cent to close at 73k per share.
Consolidated Hallmark Insurance lost 5.13 per cent to close at 37 kobo, while Livestock Feeds shed 3.85 per cent each to close at 50k per share.
Also, the total volume traded appreciated by 28.05 per cent with an exchange of 394.35 million shares worth N6.54 billion traded in 4,405 deals.
This was in contrast with 307.96 million shares valued at N2.54 billion transacted in 4,609 deals on Monday.
Transactions in the shares of UACN topped the activity chart with 117.68 million shares valued at N826.98 million.
FBN Holdings followed with 47.84 million shares worth N323.88 million, while Access Bank traded 40.33 million shares valued at N391.77 million.
Zenith Bank traded 21.01 million shares valued at N390.72 million, while United Bank for Africa sold 20.20 million shares worth N144.51 million.
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...